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Global Tourism Market Size, Share, Trends, Growth, Analysis: By Tourism Type: Domestic Tourism, International Tourism; By Travel Days: Less Than 7 Days, Between 7 – 15 Days, More Than 15 days; By Travel Purpose: Business Spending, Leisure Spending, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Global Tourism Market Size
The global tourism market value reached around USD 9.24 trillion in 2023. The market is projected to grow at a CAGR of 4.7% between 2024 and 2032, reaching almost USD 13.96 trillion by 2032.
| Global Tourism Market Report Summary | Description | Value |
| Base Year | USD Trillion | 2023 |
| Historical Period | USD Trillion | 2018-2023 |
| Forecast Period | USD Trillion | 2024-2032 |
| Market Size 2023 | USD Trillion | 9.24 |
| Market Size 2032 | USD Trillion | 13.96 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 4.7% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 6.1% |
| CAGR 2024-2032 - Market by Country | India | 7.0% |
| CAGR 2024-2032 - Market by Country | Brazil | 5.1% |
| CAGR 2024-2032 - Market by Tourism Type | International Tourism | 5.2% |
| CAGR 2024-2032 - Market by Travel Purpose | Leisure Spending | 5.3% |
| Market Share by Country 2023 | Germany | 5.2% |
Global Tourism Market Outlook
- According to the Australian Bureau of Statistics, Australia saw 1,704,730 tourist arrivals, a yearly increase of 444,180.
- UK Music reports that in 2022, music tourism grew to 14.4 million, thus, increasing demand for fireworks at events.
- The U.S. Bureau of Economic Analysis reports a 21% growth in the tourism and travel industry in the US in 2022.
Global Tourism Market Growth
The tourism demand forecast is impacted by many countries like Saudi Arabia, Qatar, and China that are attempting to enhance their international standing by creating sustainable infrastructure for hosting international sporting events. As a part of its $2.7 billion investment, Saudi Arabia is planning to expand its existing facilities for seating in the Prince Faisal Bin Ahad Stadium to host the Asian Football Confederation’s Asian Cup in 2027. Since sports tourism accounts for 10% of the world’s overall tourism expenditure, Saudi Arabia is expected to solidify its position as a key region in the Middle East and Africa for sports enthusiasts, thereby driving the growth of the tourism industry.
As per the Travel and Tourism Development Index (2024) released by the World Economic Forum, iconic landmarks, delectable cuisines, and renowned culture of countries like the USA, Spain and Japan made them leaders of the global tourism landscape. In 2023, the USA, Spain, and Japan cumulatively attracted over 180 million travellers. With the number of people visiting American Hollywood, Spain’s various beaches and Japan’s iconic temples increasing, the market is expected to witness significant growth.
As per the tourism industry analysis, sustainability is expected to play a crucial role in shaping the tourism landscape in the forecast period. Stakeholders in the market are attempting to make tourism activities more resilient, eco-friendly, inclusive, and carbon-neutral. Moreover, the development of sustainable accommodations and green transportation solutions is expected to further revolutionise the market in the coming years.
Global Tourism Industry Outlook
As per the World Tourism Organization, the growth of the tourism market is expected to rebound. By 2024, the Middle East is expected to see a remarkable 36% increase in tourist arrivals compared to 2019, reflecting strong growth in the sector. Asia and the Pacific are also set to experience a robust recovery, with arrivals anticipated to be up by 18% in 2024, following consistent improvements in previous years. Africa and Europe are projected to achieve growth, with a 5% and 2% increase respectively by 2024, boosting the tourism industry revenue.
Further, according to UNWTO, Paris saw a 4% increase in visitors, attracting 15.5 million travellers. Hong Kong experienced a remarkable 2495% surge, with 14.7 million visitors. Bangkok's arrivals grew by 142% to 12.2 million. New York City saw a 24% rise, reaching 11.7 million international tourists. Cancún and Mecca each welcomed 10.8 million visitors, with growth rates of 13% and 124%, respectively. These trends suggest a strong recovery in global tourism, with significant increases in international arrivals in various cities, thus boosting the tourism market revenue.
The tourism market dynamics and trends are shaped by the growing number of international tourists. According to industry reports, in 2023, several major cities saw substantial growth in international arrivals, indicating a robust rebound in global tourism. Istanbul led with 20.2 million trips, a 26% increase from the previous year. London had 18.8 million arrivals, a 17% rise, while Dubai welcomed 16.8 million visitors, up 18%. Antalya experienced a notable 29% increase, reaching 16.5 million international trips.
The global tourism market offers a wide range of destinations, appealing to diverse interests such as cultural heritage, natural landscapes, and adventure activities, attracting a large audience.
- Tourism plays a crucial role in the global economy by generating revenue, creating employment opportunities, and supporting infrastructure development, benefiting both local and national economies.
- Advances in travel technology, like online booking, virtual tours, and mobile apps, make travel planning more convenient and accessible, enhancing customer satisfaction and growth of the tourism market.
Tourism demand often varies with the seasons, leading to inconsistent revenue and challenges in resource and staffing management during off-peak times.
- Heavy tourist traffic can strain natural resources and ecosystems, causing pollution, biodiversity loss, and environmental damage, which can negatively impact destinations.
- The tourism market is highly sensitive to global events like political unrest, economic crises, and health emergencies, which can severely disrupt travel plans and market stability.
Rising affluence and improved infrastructure in emerging economies offer significant tourism market opportunities, as more people can afford to travel.
- Increasing awareness and demand for sustainable and eco-friendly travel create opportunities for destinations and businesses to promote responsible tourism practices.
- Innovations in AI, virtual reality, and personalized travel experiences provide new ways to engage travellers, improve satisfaction, and streamline operations.
Political unrest, conflicts, and terrorism can deter tourists and negatively affect tourism in impacted areas, causing substantial revenue losses.
- Environmental changes and extreme weather events can damage tourist destinations, disrupt travel plans, and reduce the attractiveness of certain regions.
- Global health crises, like pandemics, can lead to widespread travel restrictions, decreased consumer confidence, and prolonged downturns in tourism activity.
Key Players in the Global Tourism Market and their Key Initiatives
TUI AG
- TUI AG launched the "Sustainable Tourism Program" focusing on eco-friendly travel experiences and carbon reduction.
- The company expanded its digital services with the "TUI Blue App to improve its position in the tourism industry.
Booking Holdings Inc.
- Booking Holdings Inc. launched a comprehensive program promoting sustainable travel.
- The company implemented advanced AI technologies to offer personalized travel experiences.
Expedia Group Inc.
- Expedia Group Inc. launched a comprehensive sustainability program aimed at promoting eco-friendly travel options.
- Considering the growing tourism market opportunities, the company is enhancing its technology platform with advanced AI features.
Contiki
- Contiki has introduced "Sustainable Travel Experiences," focusing on eco-friendly tours.
- The company launched "Local Immersion Programs to meet the tourism market demand.
G Adventures Inc.
- G Adventures Inc. launched the "Retravel" initiative, encouraging sustainable and responsible travel.
- Partnered with National Geographic to create immersive, culturally rich travel experiences.
Global Tourism Industry Segmentation
“Global Tourism Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Tourism Type
- Domestic Tourism
- International Tourism
Market Breakup by Travel Days
- Less Than 7 Days
- Between 7 – 15 Days
- More Than 15 days
Market Breakup by Travel Purpose
- Business Spending
- Leisure Spending
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
| CAGR 2024-2032 - Market by | Country |
| India | 7.0% |
| Brazil | 5.1% |
| Canada | 4.4% |
| Australia | 4.1% |
| USA | 3.8% |
| UK | XX% |
| Germany | XX% |
| France | XX% |
| Italy | XX% |
| China | XX% |
| Japan | 3.6% |
| Saudi Arabia | XX% |
| Mexico | XX% |
Tourism Market Share
Based on region, the market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Over the forecast period, Europe is expected to remain one of the most popular tourist attractions, as countries like Italy and Switzerland emerge as popular travel destinations for international tourists seeking delicious cuisines and mountainous landscapes for leisure travel boosting the demand of the tourism market.
Leading Companies in the Tourism Market
Major market players are expected to expand their product offerings for different consumers and provide cost-effective travel packages.
- TUI AG
- Booking Holdings Inc.
- Expedia Group Inc.
- Despegar.com, Corp.
- Contiki
- Butterfield & Robinson Inc.
- Geographic Expeditions Inc.
- ROW Adventures
- MT Sobek’s
- G Adventures Inc.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Tourism Type |
|
| Breakup by Travel Days |
|
| Breakup by Travel Purpose |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
Tourism Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Tourism Market Analysis
8.1 Key Industry Highlights
8.2 Global Tourism Historical Market (2018-2023)
8.3 Global Tourism Market Forecast (2024-2032)
8.4 Global Tourism Market by Tourism Type
8.4.1 Domestic Tourism
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 International Tourism
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Tourism Market by Travel Days
8.5.1 Less Than 7 Days
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Between 7 – 15 Days
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 More Than 15 days
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Tourism Market by Travel Purpose
8.6.1 Business Spending
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Leisure Spending
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Others
8.7 Global Tourism Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Tourism Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Tourism Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Tourism Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Tourism Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Tourism Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 TUI AG
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Booking Holdings Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Expedia Group Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Despegar.com, Corp.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Contiki
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Butterfield & Robinson Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Geographic Expeditions Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 ROW Adventures
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 MT Sobek’s
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 G Adventures Inc.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Tourism Market: Key Industry Highlights, 2018 and 2032
2. Global Tourism Historical Market: Breakup by Tourism Type (USD Trillion), 2018-2023
3. Global Tourism Market Forecast: Breakup by Tourism Type (USD Trillion), 2024-2032
4. Global Tourism Historical Market: Breakup by Travel Days (USD Trillion), 2018-2023
5. Global Tourism Market Forecast: Breakup by Travel Days (USD Trillion), 2024-2032
6. Global Tourism Historical Market: Breakup by Travel Purpose (USD Trillion), 2018-2023
7. Global Tourism Market Forecast: Breakup by Travel Purpose (USD Trillion), 2024-2032
8. Global Tourism Historical Market: Breakup by Region (USD Trillion), 2018-2023
9. Global Tourism Market Forecast: Breakup by Region (USD Trillion), 2024-2032
10. North America Tourism Historical Market: Breakup by Country (USD Trillion), 2018-2023
11. North America Tourism Market Forecast: Breakup by Country (USD Trillion), 2024-2032
12. Europe Tourism Historical Market: Breakup by Country (USD Trillion), 2018-2023
13. Europe Tourism Market Forecast: Breakup by Country (USD Trillion), 2024-2032
14. Asia Pacific Tourism Historical Market: Breakup by Country (USD Trillion), 2018-2023
15. Asia Pacific Tourism Market Forecast: Breakup by Country (USD Trillion), 2024-2032
16. Latin America Tourism Historical Market: Breakup by Country (USD Trillion), 2018-2023
17. Latin America Tourism Market Forecast: Breakup by Country (USD Trillion), 2024-2032
18. Middle East and Africa Tourism Historical Market: Breakup by Country (USD Trillion), 2018-2023
19. Middle East and Africa Tourism Market Forecast: Breakup by Country (USD Trillion), 2024-2032
20. Global Tourism Market Structure
Key Questions Answered in the Report
The market was valued at nearly USD 9.24 trillion in 2023.
The market is estimated to grow at a CAGR of 4.7% between 2024 and 2032.
The market is assessed to witness a healthy growth in the forecast period to reach around USD 13.96 trillion in 2032.
The market is categorised according to the tourism type, which includes domestic tourism and international tourism.
Based on the travel days, the market is divided into less than 7 days, between 7 – 15 days and more than 15 days.
Based on the travel purpose, the market is divided into business spending, leisure spending and others.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The market key players are TUI AG, Booking Holdings Inc., Expedia Group Inc., Despegar.com, Corp., Contiki, Butterfield & Robinson Inc., Geographic Expeditions Inc., ROW Adventures, MT Sobek’s, and G Adventures Inc., among others.
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